Apple Shares Drop As Coronavirus Disrupts Supply Chain

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Apple Shares Drop As Coronavirus Disrupts Supply Chain

Apple Shares Drop As Coronavirus Disrupts Supply Chain

Apple shares fell 2 % on Tuesday and dragged the stocks of its suppliers across the globe lower.

The fall came after Apple warned of lower sales in the current quarter, saying the coronavirus outbreak was pressuring its supply chain.

According to Reuters, the drop in the iPhone maker's stock is set to wipe nearly $30 billion off its market capitalization.

Prior to the outbreak, the company was inching closer to $1.5 trillion in value.
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